Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

What Is Next In Turkey?

The generals were never the script writers of the coups but only players. The script writers of the coup on July 15 in Turkey aimed to simulate a coup as if it was staged by the Gulen movement. It was simply a false flag. While only a few hundred soldiers were involved in the coup, more than ten thousand officers were purged and arrested. While the police officers challenged the coup plotters, twelve thousand police officers were fired two months after the coup.

Boat carrying Turkish asylum seekers capsizes off Greece, killing 3 children and 3 others

At least 6 people, including 3 children, were killed after a boat carrying Turkish asylum seekers capsized in the Aegean Sea on Sunday.

Gov’t keeps purging, dozens of police officials across Turkey have been removed

The government’s massive purge of members of the police and judiciary following the eruption of a corruption and bribery scandal continued across the country on Tuesday, with dozens more police officials being removed from their posts.

Elvan Foods: Our exports extended to 130 countries thanks to Turkish Schools

Hidayet Kadiroglu, the CEO of Elvan Food, one of the major companies in the chocolate and candy industry said that their exports extended to 130 countries thanks to the Turkish schools all over the world. Kadiroglu stated that they were able to establish factories in first Azerbaijan and then Egypt; they had the opportunity to stretch out to Asian and African markets.

Turkey’s Kurdish question and the Hizmet movement

This is the title of a new report authored by Dr. Mustafa Gurbuz and published on the website of the US-based think tank Rethink Institute

Dozens detained in gov’t witch-hunt against Gülen movement

As part of an escalating witch-hunt against groups affiliated with the Gülen movement, the police have arbitrarily detained dozens of people across the country, including human rights defenders and philanthropists, using bullying tactics and unlawfully cuffing law-abiding citizens.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Turkish govt has declared war on us, Nigerian student cries out from hiding

When nations spy on their nationals on foreign soil

Rounding up the ISIS collaborators, in Turkey and Kurdistan

Erdoğan calls on people to show no mercy to Gülen movement

Turkey: Erdogan’s macabre dance in Africa

Can a leader play a mediator role while terminating an aid charity?

US, Gülen to trigger artificial earthquake(!) in İstanbul, Ankara mayor says

Copyright 2026 Hizmet News